XRP News Today: XRP Surges 29% Weekly, Analyst Predicts 200% Gain to $10

XRP, the native token of Ripple, is poised for a significant price surge according to a prominent analyst. Dr. Cat, a well-known crypto analyst, has predicted that XRP could triple in value, reaching between $6 and $10, if Bitcoin's rally continues and reaches $144,000. This prediction is based on a bullish Ichimoku Cloud signal forming on the XRP/BTC chart, a rare occurrence that has historically preceded major upswings.

Dr. Cat's analysis indicates that XRP is currently "coiling" under a crucial resistance level at 2,674 satoshis. If XRP closes this month above this level, it could trigger the first bullish Ichimoku Cloud "kumo twist" since 2018. However, the analyst cautions that a rise before a Tenkan-Kijun (TK) cross would be less favorable from a technical standpoint. Despite this, the overall trend remains bullish, and XRP could still rally in the near term.

The analyst has identified a major resistance zone between 4,135 and 7,600 satoshis, which he refers to as the "take-profit zone." If XRP manages to push into this range, the first stop would be around $4.50, with the potential to reach $6 to $10 if Bitcoin maintains its strong trend. This resistance zone is critical as it could define whether XRP continues its upward trajectory or faces significant selling pressure.

XRP's recent performance has been impressive, closing last week above $3.47 and currently trading near $3.55 after a 29% weekly surge. This momentum is further strengthened by XRP's market cap surpassing that of oil giant Shell, hitting $207 billion compared to Shell's $206 billion. Over the past year, XRP has delivered a staggering 488% return, while Shell has seen a 5% decline. This performance underscores the growing interest and investment in XRP, supporting the analyst's bullish outlook.

In conclusion, Dr. Cat's prediction that XRP could hit $10 is based on a bullish chart pattern and the potential for Bitcoin to reach $144,000. This forecast is supported by XRP's recent performance and its market cap surpassing that of Shell. The analyst's optimism is rooted in the idea that a surge in Bitcoin's price could create a favorable environment for other cryptocurrencies, including XRP. If Ripple successfully capitalizes on the growing adoption of digital payments, it could drive significant demand for XRP, potentially leading to substantial price increases.